05.05.20
Krave Jerky has been acquired by Sonoma Brands, owned by Krave founder John Sebastiani, after Sonoma Brands first sold the company to Hershey for $218.7 million in 2015. Sonoma Brands bought back Krave for an undisclosed amount yesterday.
Michele Buck, the president of The Hershey Company, said that Hershey was motivated to tap into the growing meat snacks category and expand their portfolio at the time they bought the company five years ago. Krave was founded by Sebastiani in 2009, and the company is now one of the major players in the premium jerkey market segment.
Under Hershey’s ownership, Krave also developed a line of plant-based jerky this year made from peas and fava beans, offering a vegan, protein-packed alternative that taps into the growing meat alternatives sector.
While Krave was in Hershey’s hands, Sebastiani launched Sonoma brands in 2016, which served as an incubator for consumer packaged goods, including good-for-you foods, alcoholic and non-alcoholic beverages, and cosmetic products, including Smashmallow, Medlie veggie drinks, Guayaki Yerba Mate, Hu dark chocolate, and plenty more.
Michele Buck, the president of The Hershey Company, said that Hershey was motivated to tap into the growing meat snacks category and expand their portfolio at the time they bought the company five years ago. Krave was founded by Sebastiani in 2009, and the company is now one of the major players in the premium jerkey market segment.
Under Hershey’s ownership, Krave also developed a line of plant-based jerky this year made from peas and fava beans, offering a vegan, protein-packed alternative that taps into the growing meat alternatives sector.
While Krave was in Hershey’s hands, Sebastiani launched Sonoma brands in 2016, which served as an incubator for consumer packaged goods, including good-for-you foods, alcoholic and non-alcoholic beverages, and cosmetic products, including Smashmallow, Medlie veggie drinks, Guayaki Yerba Mate, Hu dark chocolate, and plenty more.